Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...

Response times are a simple low-cost indicator of the process of reasoning in strategic games (Rubinstein, 2007; Rubinstein, 2016). We leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on...

We experimentally investigate a finitely repeated public good game with varying partners. Within each period, participants are pairwise matched and contribute simultaneously. Participants are informed about contributions and each participant evaluates her partner's contribution. At the beginning...

This article investigates whether decision makers intuitively optimize close to the normative prediction in entrepreneurial decision situations where their time must be allocated between a wage job and a newly formed venture. We offer an analytical model based on maximizing expected utility, and...

The public goods problem or the “tragedy of the commons,” (Hardin, 1968) either viewed as a problem of extraction or that of contribution has had a rich history in Economics and indeed in other social sciences like Anthropology, Sociology and Political Science. Our research examines free...

Minority games are a stylized description of strategic situations with both coordination and competition. These games are widely studied using either simulations or laboratory experiments. Simulations can show the dynamics of aggregate behavior, but the results of such simulations depend on the...

While infinitely repeated games with payoff discounting are theoretically isomorphic to randomly terminated repeated games without payoff discounting, in practice, they correspond to very different environments. The standard method for implementing infinitely repeated games in the laboratory...

This paper looks to see if departures from risk neutrality cause subjects to behave differently in randomly terminated supergames compared to infinitely discounted supergames. I show that if subjects have a strictly monotonic utility function, and that utility function is applied to their entire...

This paper looks to see if subjects approach long, indefinitely repeated Prisoner's Dilemma games featuring discounted payoffs with an option to opt out differently from how they approach long, indefinitely repeated Prisoner's Dilemma games that are randomly terminated. I show under relatively...

This note investigates a set of dynamic versions of the level-k (LK) and cognitive hierarchy (CH) models in repeated normal-form games. Conventional LK and CH models assume a reasoning process that does not allow learning. This can be a restrictive assumption: When facing a repeated game,...